School board approves limited‑tax note placement with Regions at 3.82%
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Summary
The board approved the final stage of a bond transaction, authorizing placement of a limited‑tax note with Regions Bank at a 3.82% rate after a competitive process.
The school board approved a resolution to place a limited‑tax note with Regions Bank after staff reported the lowest bid at 3.82 percent. Finance staff said this vote completes the third and final stage of the bond resolution process that the board had approved in prior meetings.
The action matters because bond proceeds fund district construction and capital projects; placing the debt finalizes the district’s financing terms. Finance staff described the sequence as three stages and said the board previously approved the bond resolution and a no‑protest period at earlier meetings.
A board member moved to approve the placement and the motion passed on a voice vote; no roll‑call tally was recorded in the minutes. The board’s action authorizes district officers to proceed with the placement on the terms presented. No amendments or conditions were reported on the floor.
The placement was presented as part of the July 17 consent and business agenda and will allow staff to move forward with closing steps on the financing.